AmericasFinance and Insurance

Oak Hill raising $2bn distressed debt fund

New York-based Oak Hill Advisors is looking to put together a $2bn distressed debt fund, with shipping targets in focus, Bloomberg reports.

Distressed investment opportunities will likely surge in the energy, mining, commodities and shipping sectors, Oak Hill co-founder and chief executive Glenn August said during a CNBC interview last month.

On its latest fund, Bloomberg reported Oak Hill will charge a 1.5% management fee based on the price of investments, with an 8% preferred return and 20% carried interest. Oak Hill declined to comment.

Oak Hill has about $27bn in assets under management at present.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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